THE BUTTER MARKET.

Rangitikei Advocate and Manawatu Argus, Volume XXXIII, Issue 9068, 7 February 1908, Page 4

THE BUTTER MARKET.

The butter market at Home is becoming more than interesting, and it is unfurtunate for Auckland that the long spell of dry weather is causing such a falling off in the outputs of factories, says the Auckland Herald. Given last year’s output at prices now ruling at Home, Auckland fabtories would be reaping a harvest such as they have never known before. As it is, factories which have large lines on consignment, and now on the water, gwill have every cause for congratulation. During the last week choicest New Zealand butter averaged. 124 s per cwt. Then the prices rose, and the Tongariro shipment to be delivered next week has already been sold at 126 s per cwt., and dealers are now askingl 28s per cwt. This price of 2lSs per cwt. represents very close on Is l%d per lb, and with butter selling at that figure in bulk, exporters are likely to rush as much on to the London market as they possibly can. For butter sold locally at Is Id the wholesale price is 1 1%, so that it can be readily seen what a fascinating prospect tne London market is offering, and, in view of that prospect, the local market, to draw foil supplies, will apparently have to considerably raise the wholesale price here. Several fatories ha' e ceased exporting, and are storng for winter supplies, but the L<ndon prices promise to attract every box that can p iFsibly be s nt into export, while there is the added fact that supplies are extremely short in the South Island,* and it is likely’thatjthe South will endeavour to draw,; its winter supplif s from Auckland in even greater qua tities than it did last w nter. * Already j Southern merch nts are looking everywhere in Auckland for big lines of butter, so that, as one merchant said last week, the outlook for the thrifty housewife is gloomy, and the prospect of butter at Is 4d, and even Is 6d per lb, appears to be very much nearer. Against this, however, is the fact that prices are dairy farmers to go in for ensilage making, and winer dairying, a course that Mr Kinsella, formerly Chief Dairy Commissioner, strennin Auckland, where the conditions are so eminently adapted for it. There is t indeed, no reason why butter should have to be stored in Auckland for winter use. There should be sufficient late autumn and winter supplies to keep the local market at any rate fully stocked. It is a notable point that while 128 s is being asked for New Zealand butter, the Danish article, usually of the market, is fetching 127 s ; Australian, J22s ; Argentine, 120 s; and Siberian 117 s;. There has been a falling off in supplies all over the world this season, for some reason or other, and shipments from New Zealand and Australia have been short, while Canada, which last season sent enormous quantities, has this time sent scarcely any butter at all.